Something had to be done.
It is December, so I cleared my head and made some tough choices. I sold completely out of AEC, ETP, and BTU. AEC and ETP are the only two positions I have that have held up (made money, really). I don’t want to part with them, but it’s the best move.
There will be immediate cries about selling winners and doubling down on losers. This is nonsense. I’m not doubling down on anything.
The sheer magnitude of this calamity has left me with an enormous, outstanding loss for the year. It’s December – no way in hell I can absorb that loss in less than 30 days.
The only way I can view this is as a window of opportunity to cash out my winners tax free.
Cash now stands at 25%.
I’m sitting on the cash. My preference, obviously, would be to deploy into a sector not at all tied to oil and gas. But if my worst fears come to fruition, that may not be a real thing.If you enjoy the content at iBankCoin, please follow us on Twitter